Most great investors will say it’s much harder to sell a stock than it is to buy. There are several reasons for this including investor psychology, cognitive biases and the power of sunk costs, to name a few.
I think another reason has to do with decisions.
Before purchasing a stock, there’s only question, “To buy or not to buy.”
Once you purchase, like it or not, you now enter into relationship with that stock. As such, you will face a million little decisions all along the way.
“The stock went down, what do I do?”
“The stock is way up, what do I do?”
“The stock reported bad numbers. Is the story still intact? Is it still on the right track”
“There’s a new CEO. What does that mean?”
“My friend gave me a hot tip on another company. Should I sell this one and buy that other one?”
The same holds true when you decide to produce something you’re passionate about. You are now in relationship with that project. You care about it deeply. As the great producer Daryl Roth says, “I feel like all my plays are my children.”
And because you care enough to be a producer, you accept responsibility. Which means you will have a lot of decisions to make.
So, choose wisely.
P.S. – A correction…In yesterday’s post, I mistakenly billed the title of the short film as “Dirt Devil.” It’s actually “Dust Devil.” Hope you enjoyed watching it!